Fri, Nov. 18, 11:13 AM
- Barron's Ben Levisohn reports that Gilead Sciences (GILD -1.3%) has a range of attractive candidates should it decide to spend some its $32B cash hoard on an acquisition, a virtual certainty after the recent momelotinib disappointment.
- Considering the company's stated interest in oncology, obvious choices are Incyte (INCY -1.1%) and TESARO (TSRO -3%).
- Venturing out into the rare disease space, Alexion Pharmaceuticals (ALXN -1.6%), Vertex Pharmaceuticals (VRTX -1.6%) and BioMarin Pharmaceutical (BMRN -1.1%) are attractive fare.
- None of these companies are a surprise to biotech followers. All have been noted as buyout targets for some time now.
Thu, Nov. 17, 3:07 PM
- Echoing Piper's Josh Schimmer, Leerink's Michael Schmidt also believes Gilead's (GILD -0.8%) stumble with momelotinib makes Incyte (INCY +4.9%) an attractive acquisition target since Gilead's candidate is no longer a potential risk to Jakafi sales, Incyte's top seller. He has an Outperform rating on the stock and has raised the price target to $115 (9% upside) from $101.
Thu, Nov. 17, 8:35 AM
- Leerink Partners analyst Geoffrey Porges believes Incyte (NASDAQ:INCY) is, again, on Gilead Sciences' (NASDAQ:GILD) short list of acquisition targets after momelotinib failed to beat Jakafi in a late-stage study. Gilead is widely known to be looking for an acquisition to boost growth.
- Mr. Porges says the combined company would still overlap in filgotinib and baricitinib but Incyte's passive role in the development and commercialization of baricitinib should not affect filgotinib's prospects very much.
- INCY is up 5% premarket.
Tue, Jul. 19, 10:50 AM
- Prompted by moderating growth from traditional drug sales, large cap drug/biotech firms have their sights set on developers of cancer therapies, in particular immunotherapies, to boost both their top and bottom lines. Roche (OTCQX:RHHBY -1.5%), Amgen (AMGN +0.1%), Sanofi (SNY -1.3%) and Gilead Sciences (GILD -1.2%) are all actively on the prowl for acquisitions.
- Medivation (MDVN +0.1%), with its prostate cancer drug Xtandi (enzalutamide), is currently in play. Sanofi has been the most aggressive with two unsuccessful bids, but Pfizer (PFE) and Celgene (CELG -0.6%) are supposedly interested.
- Analysts say Incyte (INCY -0.4%), with polycythemia vera and myelofibrosis drug Jakafi (ruxolitinib), and Seattle Genetics (SGEN -0.8%), with lymphoma drug Adcetris (brentuximab vedotin), are the most attractive takeover targets.
- Recent transactions include AbbVie's (ABBV -0.3%) buyout of Stemcentryx, Jazz Pharmaceuticals' (JAZZ -0.8%) takeout of Celator Pharmaceuticals and Bristol-Myers Squibb's (BMY -0.2%) acquisition of Cormorant Pharmaceuticals.
Mon, May 9, 8:20 AM
- Incyte (NASDAQ:INCY) acquires the European operation of ARIAD Pharmaceuticals (NASDAQ:ARIA) for $140M upfront plus milestones and tiered royalties.
- Under the terms of the deal, Incyte will acquire all the shares in ARIAD Pharmaceuticals (Luxembourg) S.a.r.l. as well as an exclusive license to develop and commercialize Iclusig (ponatinib) in Europe and 22 other countries.
- ARIAD will receive $140M upfront, tiered royalties between 32% and 50% on net sales of Iclusig and up to $135M in potential development and regulatory milestones for new oncology indications for Iclusig in the territory. Incyte has also agreed to fund a portion of the ongoing clinical development of Iclusig in ARIAD's OPTIC and OPTIC-2L (leukemia) studies via cost-sharing payments of up to $7M in each of 2016 and 2017.
- ARIAD will host a conference call this morning at 8:30 am ET to discuss the transaction.
- ARIAD is up 5% premarket on increased volume.
- Update: On June 2, ARIAD announced that the deal was completed.